Trump’s Russia sanctions pause: How it eases tariff threat on India, lifts trade deal hopes
US President Donald Trump paused the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, which allowed him to impose 100% tariffs on major buyers of Russian oil, including India. This decision aims to alleviate soaring crude oil prices exceeding $110 per barrel and may enhance prospects for a trade deal with India. The implications for trade will unfold as midterm elections approach.